Dogecoin transactions worth more than $100,000 have reached a four-month high of 2,440, interpreted as a market repositioning for big moves.
Such market behavior can act as a proxy for whales’ activity, suggesting how they may be positioning for a big price move. pic.twitter.com/K49QfXFVYb
— Ali Martinez (@ali_charts) April 26, 2022
DOGEUSD is up +1.33%
The surge comes after the announcement that the acquisition of Twitter by Elon Musk for $45 billion has been finalized at $54.2 per share.
Cryptocurrency analyst Ali Martinez maintains that the DOGE is projected to rise to $0.24 after breaking from a wedge pattern in the past week.
The meme tokens have also increased in market capitalization to about $2 billion in the period that Musk and Twitter were pondering about the deal.
The confirmation has pushed the price of DOGE up by 32.69% to trade at $0.1652 in the past day and 18.16% in the past seven days. Dogecoin is expected to rise as much as $0.5 in the year.